Vehicle Finance
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Whether you’re buying a car for business or personal purposes you should get advice about the financing options available.
Dealer finance can be far more expensive than they might indicate. Our advice is always to separate the vehicle purchase transaction from the financial transaction.
Our car finance brokers help borrowers understand how the cost of servicing a car loan can impact your borrowing capacity for business or to buy a home because it can have a big impact! While the value of most cars is typically not very high, vehicle loans have high principal repayment requirements because most loans are less than seven years.
Finance Options
Our range of finance options include:
Variable/Seasonal Repayments
Your equipment finance repayments need to match the variability of your business income and costs. This is an assessment we make with all clients up front to get it right.
Tax Effective Structures
There are many forms of equipment finance which will have a bearing on your profit and loss, and balance sheet. Working with your tax advisor in conjunction with structuring your loan is important.
High Residual Value Finance
If your equipment is expected to maintain its value over time, then it’s possible to minimise your monthly repayments and have a high residual/balloon payment at the end of the loan term.
Limited Recourse Finance
Ideally, a business should aim to have its equipment on a standalone basis. A broker can help you determine whether this is possible or if additional security is required.
Broker Tips To Secure A Loan
Financial Information
Presentation of accurate records of your trading performance and assets and liabilities makes it easier to get the sharpest interest rates for business finance.
Business Plan
A brief written overview of your business history and future plans will provide more meaning to your finance request.
Duration And Residual Values
Structure your repayments to suit your business cash flow and the expected life of the asset being purchased.
Pre-approval
Get your loan pre-approved so you can go shopping with confidence.